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CenterPoint Energy (CNP) Tops Q1 Earnings, Sales Up Y/Y
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CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2018 adjusted earnings of 55 cents per share, which beat the Zacks Consensus Estimate of 44 cents by 25%. Earnings improved 48.6% from the year-ago quarter’s 37 cents.
Excluding one-time items, the company reported earnings per share of 38 cents, compared with 44 cents in the year-ago quarter.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
Total revenues in the reported quarter were $3,155 million, which surpassed the Zacks Consensus Estimate of $2,752 million by 14.6%. Revenues were also 15.4% higher than $2,735 million reported a year ago.
The top-line upside was driven by higher contribution from Natural Gas Distribution, Energy Services as well as Electric Transmission & Distribution segments.
Operational Results
Total expenses in the quarter increased 18.8% year over year to $2,904 million.
Consequently, operating income declined 13.7% to $251 million from $291 million a year ago.
Interest and other finance charges remained flat at $78 million in the reported quarter, when compared to the year-ago quarter’s figure.
Segment Results
The Electric Transmission & Distribution segment reported operating income of $115 million in the first quarter, compared with $86 million in the year-ago quarter.
The Natural Gas Distribution segment reported operating income of $156 million, compared with $168 million in the year-earlier quarter.
The Energy Services segment reported adjusted operating income of $54 million in the first quarter, compared with $20 million in the year-ago quarter.
Financial Condition
As of Mar 31, 2018, CenterPoint Energy had cash and cash equivalents of $219 million, down from $260 million as of Dec 31, 2017.
Total long-term debt was $8,176 million as of Mar 31, 2018, compared with $8,195 million as of Dec 31, 2017.
At the end of first-quarter 2018, the company’s net cash from operating activities was $484 million, compared with $317 million a year ago.
Total capital expenditure was $323 million at quarter-end, compared with $298 million in the year-ago quarter.
Guidance
CenterPoint Energy currently expects to generate earnings in the high end of its previously guided range of $1.50-$1.60.
Consolidated Edison Inc. (ED - Free Report) reported first-quarter 2018 earnings of $1.37 per share, which surpassed the Zacks Consensus Estimate of $1.33 by 3%.
PG&E Corporation (PCG - Free Report) reported adjusted operating earnings per share of 91 cents in first-quarter 2018, which missed the Zacks Consensus Estimate of $1.03 by 11.7%.
FirstEnergy Corp. (FE - Free Report) reported first-quarter 2018 operating earnings of 67 cents per share, which lagged the Zacks Consensus Estimate of 68 cents by 1.5%.
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
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CenterPoint Energy (CNP) Tops Q1 Earnings, Sales Up Y/Y
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2018 adjusted earnings of 55 cents per share, which beat the Zacks Consensus Estimate of 44 cents by 25%. Earnings improved 48.6% from the year-ago quarter’s 37 cents.
Excluding one-time items, the company reported earnings per share of 38 cents, compared with 44 cents in the year-ago quarter.
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise
CenterPoint Energy, Inc. Price, Consensus and EPS Surprise | CenterPoint Energy, Inc. Quote
Revenues
Total revenues in the reported quarter were $3,155 million, which surpassed the Zacks Consensus Estimate of $2,752 million by 14.6%. Revenues were also 15.4% higher than $2,735 million reported a year ago.
The top-line upside was driven by higher contribution from Natural Gas Distribution, Energy Services as well as Electric Transmission & Distribution segments.
Operational Results
Total expenses in the quarter increased 18.8% year over year to $2,904 million.
Consequently, operating income declined 13.7% to $251 million from $291 million a year ago.
Interest and other finance charges remained flat at $78 million in the reported quarter, when compared to the year-ago quarter’s figure.
Segment Results
The Electric Transmission & Distribution segment reported operating income of $115 million in the first quarter, compared with $86 million in the year-ago quarter.
The Natural Gas Distribution segment reported operating income of $156 million, compared with $168 million in the year-earlier quarter.
The Energy Services segment reported adjusted operating income of $54 million in the first quarter, compared with $20 million in the year-ago quarter.
Financial Condition
As of Mar 31, 2018, CenterPoint Energy had cash and cash equivalents of $219 million, down from $260 million as of Dec 31, 2017.
Total long-term debt was $8,176 million as of Mar 31, 2018, compared with $8,195 million as of Dec 31, 2017.
At the end of first-quarter 2018, the company’s net cash from operating activities was $484 million, compared with $317 million a year ago.
Total capital expenditure was $323 million at quarter-end, compared with $298 million in the year-ago quarter.
Guidance
CenterPoint Energy currently expects to generate earnings in the high end of its previously guided range of $1.50-$1.60.
Zacks Rank
CenterPoint Energy carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
Consolidated Edison Inc. (ED - Free Report) reported first-quarter 2018 earnings of $1.37 per share, which surpassed the Zacks Consensus Estimate of $1.33 by 3%.
PG&E Corporation (PCG - Free Report) reported adjusted operating earnings per share of 91 cents in first-quarter 2018, which missed the Zacks Consensus Estimate of $1.03 by 11.7%.
FirstEnergy Corp. (FE - Free Report) reported first-quarter 2018 operating earnings of 67 cents per share, which lagged the Zacks Consensus Estimate of 68 cents by 1.5%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>